Search Results for "US"
44 results for "US"
Deals 20
efood Partners with finmid to Launch Embedded Lending for Greek Restaurants
efood, a Delivery Hero brand in Greece, partnered with finmid to launch efood Capital, an embedded lending program for its 21,000 restaurant partners. The program offers up to €30,000 in financing within 48 hours, underwritten using platform transaction data rather than traditional credit checks. This reflects a growing trend of food delivery platforms embedding financial services to boost merchant retention.
SoFi Launches Enterprise Banking Program With Crypto-Native Infrastructure
SoFi launched SoFi Big Business Banking, an enterprise commercial banking program integrating fiat accounts, crypto rails, and its tokenized deposit SoFiUSD for 24/7 real-time money movement. The product uses a 'stablecoin sandwich' approach to enable instant settlements while keeping deposits on SoFi's balance sheet. Initial clients include Cumberland, Bullish, BitGo, B2C2, Fireblocks, Wintermute, Galaxy, Jupiter, Mesh Payments, and Mastercard.
Coinbase Receives Conditional OCC Approval for National Trust Bank Charter
The OCC granted Coinbase conditional approval for a national trust bank charter on April 2, 2026. The entity, Coinbase National Trust Company, will operate as a federally regulated digital asset custodian headquartered in New York. Coinbase must meet preopening conditions including compliance systems and AML controls before receiving final approval. The federal charter replaces a patchwork of state licenses, enabling nationwide operations under a single regulatory framework.
Elavon and Liberis Expand Partnership to Launch Quick Capital in Canada
Elavon, a U.S. Bank subsidiary, expanded its partnership with embedded finance platform Liberis to launch Quick Capital, a seamless funding solution for small businesses across Canada. Liberis provides embedded financial products through vertical SaaS providers, marketplaces, and payment processors. The partnership strengthens embedded lending within merchant ecosystems.
NatWest and Sainsbury's Partner on Embedded Finance via Nectar Loyalty Program
NatWest and Sainsbury's announced a new partnership to deliver embedded financial products—including a co-branded Nectar credit card, instant access savings, and personal loans—to Sainsbury's customers through digital channels and the Nectar loyalty program. Products will be powered by NatWest's Boxed BaaS platform and are expected to launch in the second half of 2026. This is NatWest's third embedded finance partnership following similar 2025 deals with The AA and Saga.
EDX Markets Applies to OCC for National Trust Bank Charter
EDX Markets Holding Company, backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, and others, filed an application with the OCC for a de novo national trust bank charter for EDX Trust, National Association. The proposed Chicago-based trust bank would provide digital asset custody, asset management, and settlement services exclusively for institutional clients. The application was made public on April 1, 2026.
Avalara Launches Embedded Working Capital Solution for Businesses
Avalara announced the availability of Avalara Capital, an embedded working capital solution integrated into its tax and compliance platform. The product helps businesses access fast funding to address tax debt, seasonal cash flow gaps, and growth opportunities. It represents a notable entry of a compliance-focused SaaS company into embedded finance.
MrBeast Acquires Youth Fintech Step in Influencer-Banking Deal
YouTube creator MrBeast acquired Step, a youth-focused fintech offering banking products to teens and families. The deal highlights a growing trend of attention-driven distribution strategies intersecting with regulated banking. It signals a new model where influencer reach is leveraged to acquire and scale financial services platforms.
Steward Raises €4.6M for AI-Driven AML/KYC Compliance Platform
Steward, a US- and UK-based AI-driven AML/KYC compliance platform, raised €4.6 million in funding led by Motive Partners. The platform uses AI to automate anti-money laundering and know-your-customer processes for financial institutions.
Real Wallet Wins 2026 Fintech Breakthrough Award for Embedded Finance in Real Estate
Real Wallet won a 2026 Fintech Breakthrough Award for pioneering embedded banking and lending in real estate. The platform integrates financial services directly into property transactions. This signals growing vertical-specific adoption of embedded finance beyond traditional consumer and SME use cases.
Kinective Partners with PayNearMe to Expand Payment Solutions
Kinective partnered with PayNearMe in March 2026 to expand payment solutions for banks and credit unions. Kinective Gateway will provide financial institutions access to fintech solutions through a portfolio of core and business services. The partnership aims to broaden the range of payment capabilities available to community banks and credit unions.
OCC Grants Valt Bank Conditional National Bank Charter for SMB Banking
The OCC conditionally approved Valt Bank's national bank charter on March 13, 2026. Valt Bank is a fintech challenger targeting small and midsize businesses with integrated banking, payments, and credit services. The approval requires Valt to raise at least $25 million in capital within 12 months and launch operations by September 2027. This is the latest in a surge of de novo charter applications from fintechs and digital banks.
OCC Finalizes Rule Clarifying Digital Asset Custody for National Trust Banks
The OCC finalized a rule on February 27, 2026, clarifying permissible non-fiduciary activities for national trust banks, including digital asset custody. The rule does not impose moratoriums and supports ongoing fintech and crypto charter applications. This provides greater regulatory clarity for BaaS and embedded finance providers leveraging trust bank structures.
Rainforest Launches Embedded PayPal Integration for Vertical SaaS Platforms
Rainforest launched an embedded PayPal integration enabling vertical SaaS platforms to offer PayPal, Venmo, and PayPal Pay Later at checkout. The partnership streamlines payment acceptance for software platforms serving specific industries. It adds consumer-preferred payment methods to Rainforest's embedded payments suite.
Fluz Launches Embedded Payment Platform for Software Companies
Fluz launched Fluz Platform, an embedded payment system enabling software companies to integrate payments, wallets, controlled spend, rewards, and disbursements. The low-to-no-code platform supports use cases like employee rewards, creator payouts, and customer rebates. Fluz has processed over $5 billion in payments and maintains SOC 2 Type II and PCI DSS compliance.
Modern Treasury Launches Payments PSP Unifying Fiat and Stablecoin Rails
Modern Treasury launched its Payments PSP, unifying fiat payment methods (ACH, wire, RTP/FedNow, push-to-card) and stablecoin payments through a single API. The platform includes KYC/KYB, account opening, and real-time ledger capabilities. It targets marketplaces and fintech apps seeking streamlined money movement.
ConnectPay Launches In-House Mars Core Banking System
ConnectPay launched Mars, its proprietary core banking system replacing third-party dependencies. The in-house solution provides stable account balances, transaction processing, and payment capabilities. Mars enables faster product updates and greater infrastructure control for ConnectPay's embedded banking services.
Varo Bank Raises $123.9M Growth Round for Digital Banking Platform
Varo Bank, a US digital banking platform with its own bank charter, raised $123.9M in a growth round. The funding supports continued development of its consumer digital banking services. Varo is one of the few fintechs to hold a national bank charter, making this raise notable for the BaaS landscape.
Bound Raises $24.5M Series A for Automated FX Risk Management API
Bound, an automated FX risk management platform, raised $24.5M in a Series A round. The platform provides API-driven FX hedging and risk management for businesses. This funding highlights growing demand for embedded FX infrastructure in B2B financial services.
Incard Raises £10M Series A for Digital Company Financial Platform
Incard, an infrastructure-focused financial platform for digital companies, raised £10M in a Series A round. The platform provides banking and financial tools tailored to digital-native businesses. The funding highlights demand for specialized embedded finance infrastructure.
Regulatory Actions 20
Dinosaur Merchant Bank Limited
The FCA fined Dinosaur Merchant Bank Limited £338,000 for market abuse and systems failures. The firm was categorized under electronic money and payment institutions.
Industry-Wide
The FDIC published a speech or update on reforms to its regulatory toolkit, potentially addressing BaaS and third-party risk management supervisory approaches.
First National Bank of Pasco
The OCC issued a formal agreement with First National Bank of Pasco for unsafe practices, including BSA/AML risk management, suspicious activity reporting, and due diligence deficiencies. While not explicitly tied to fintech partnerships, the areas cited are highly relevant to BaaS oversight.
N/A — Industry-wide guidance
The FCA published Policy Statement PS25/12 on August 7, 2025, introducing strengthened safeguarding rules for authorized payment institutions and e-money institutions, effective May 7, 2026.
N/A — Industry-wide
The FCA published strengthened safeguarding rules (PS25/12) effective August 2025 for authorised EMIs, payment institutions, and small EMIs to protect client funds in the event of firm failure. Interim compliance measures take effect May 2026.
N/A — Industry Guidance
OCC leadership in 2025 expressed support for bank-fintech partnerships while prioritizing risk management. The OCC continued scrutiny of fintech arrangements with emphasis on robust compliance frameworks.
SmartBiz Bank, N.A. (formerly CenTrust Bank, N.A.)
The OCC conditionally approved a fintech model by SmartBiz under rigorous compliance standards. The conditional approval reflects the OCC's approach of enabling fintech innovation while maintaining strict safety and soundness requirements.
Patriot Bank, N.A.
On February 20, 2025, the OCC entered a formal agreement with Patriot Bank, National Association, after an examination identified BSA/AML compliance deficiencies tied to third-party risks, including prepaid card programs. The bank was required to develop enhanced plans for strategic and capital planning, customer due diligence, suspicious activity monitoring, and oversight of third-party program managers.
Unknown Sponsor Bank
The FDIC released documents related to its supervision of crypto-related activities at banks, signaling a reevaluation of earlier pauses on crypto and fintech partnerships. This reflects evolving supervisory approaches to fintech innovation.
Unknown Sponsor Bank
The CFPB finalized a rule defining larger participants in the general-use digital consumer payment applications market, enabling supervision of nonbanks with 50 million or more annual transactions. This rule was published around November 2024.
Unknown EMIs and PIs
The FCA disclosed aggregate enforcement data for Electronic Money Institutions (EMIs) and Payment Institutions (PIs) through November 2024, revealing ongoing use of VREQs, OIREQs, enforcement operations, and s166 skilled person reviews. In 2024 YTD, EMIs received 3 VREQs and 6 s166 reviews, while PIs received 1 enforcement operation, 1 OIREQ, 2 VREQs, and 1 s166 review.
Unknown EMIs (6 institutions)
The FCA commissioned six s166 skilled person reviews of Electronic Money Institutions in 2024 through November. These reviews are used to independently assess whether firms meet regulatory requirements.
N/A — Industry Guidance
The FCA published updated guidance on its approach to payment services and electronic money in November 2024, reflected in tracked-changes revisions to its 2017 approach document.
N/A — Industry-wide joint statement
The OCC, Federal Reserve, and FDIC jointly issued a statement on July 25, 2024, highlighting risks in third-party arrangements for bank deposit products and services. The statement emphasizes that banks retain full accountability for consumer protection, financial crimes prevention, and safe/sound practices despite outsourcing to fintechs.
Industry-Wide
The OCC, FDIC, and Federal Reserve issued a Request for Information seeking public comments on risks in bank-fintech arrangements, including accountability gaps, end-user confusion, rapid growth, concentration, liquidity, and data ownership.
Industry-Wide
The OCC, FDIC, and Federal Reserve jointly issued a statement reminding banks of risks in third-party arrangements with fintechs for delivering deposit, payment, and lending products. The statement outlines risk management examples without creating new rules.
N/A — OCC internal reorganization
The OCC established a new Office of Financial Technology in early 2023 to enhance supervisory expertise on digital assets, fintech partnerships, and emerging business models affecting OCC-supervised banks.
Nexus Independent Financial Advisers and Nexus Investment Managers
The FCA placed restrictions on Nexus Independent Financial Advisers and Nexus Investment Managers on January 25, 2023, halting regulated activities and asset access due to concerns over unauthorized fund withdrawals by a senior individual.
Viola Money (Europe) Limited
The FCA imposed requirements on Viola Money (Europe) Limited, an authorised electronic money institution, to cease all regulated electronic money and payment services on 14 December 2021 due to serious concerns about its business operations and client dealings.
N/A — Industry Guidance
Federal banking agencies (Federal Reserve, OCC, FDIC) issued joint guidance in August 2021 advising community banks on conducting due diligence when entering fintech partnerships. The guidance emphasizes risks including legal/regulatory compliance, AML, consumer protection, and contract terms.